The apex court dismissed the DoT plea against TDSAT's April 12 order that directed DoT to clear Airtel’s buy out of the India arm of Telenor, without requiring the Indian telco to furnish the bank guarantee.

Former promoters Malvinder and Shivinder Singh and promoter groups saw their holding shrink to less than 1% from 34.43% in December 2017 because they were unable to redeem shares pledged against loans.